Investis IPO: Over-allotment option fully exercised
Credit Suisse AG, acting on behalf of the underwriters, on Thursday - one week after Investis Group's IPO - fully exercised the over-allotment option of 280,000 existing shares held by the company's founder Stéphane Bonvin at the offer price of CHF 53 per share.
This over-allotment option represents ten percent of the 2.8 million shares offered by the Company in the IPO. Including the shares placed in connection with the over-allotment option, a total of 3.08 million shares were sold in the Investis IPO. This represents a total placement volume of CHF 163.2 million, of which CHF 148.4 million were gross proceeds to the Company, resulting in a free float of 24.1 percent. The remaining share capital and voting rights remain with Stéphane Bonvin.
Subject to certain limited exceptions, the Company has committed to a lock-up period of twelve months after the first trading day. Subject to certain limited exceptions, the selling shareholder has committed to a lock-up period of 36 months (for shares representing 67 percent of the Company's share capital) and twelve months (for shares representing more than 67 percent of the Company's share capital) after the first trading day.
Investis has a large portfolio of residential properties in the Lake Geneva region and is a national provider of real estate services. (mr)
